The median list price for an Atlanta-area home rose 1.9% year over year in June to $429,000 as active listings rose 1.9% and new listings decreased 2.6%, Realtor.com said in its Monthly Housing Trends Report. 

Nationally, the median list price slid 2.5% to $430,000 in June, representing the eighth-straight month of year-over-year decreases and the largest annual drop since 2017. 

Meanwhile, active listings were up 1.9% and new listings were up 2.4%. Pending sales climbed 3.7%, representing the seventh consecutive month of gains. 

The share of active listings with a prior price reduction decreased 1.9 percentage points to 18.8% in a sign that seller expectations are becoming more realistic. 

“Sellers are reading market conditions and are pricing accordingly from the start rather than listing high and cutting later, and buyers are taking note and making bids,” Realtor.com Chief Economist Danielle Hale said. “This is a welcome sign that we are in a functioning market.” 

Regional price changes and listing activity 

Regionally, the median list price decreased annually in the West (4%), South (2.5%) and Northeast (1%) and increased in the Midwest (1%). 

Active inventory jumped 8.5% in the Northeast and 7.3% in the Midwest and was basically flat in the South with a 0.1% dip and West with a 0.3% gain. 

New listings jumped 12.6% in the Northeast and rose modestly in the Midwest (1%), South (1%) and West (0.2%). 

Overall, Realtor.com said June was a month of “continuity for the economy and stability for the national housing market,” which was a relief after a bumpy spring characterized by rising inflation and economic disruptions from the war in Iran. 

“It was a no-news-is-good-news June,” Realtor.com Senior Economist Jake Krimmel said. “While it may seem obvious now, this was far from a foregone conclusion just a few months ago.”